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Automation in production — line is a new phenomenon, automation has, in recent years, gained tremendous ground against non — automatic methods of production, mainly to achieve higher out put, better productivity, higher quality, more flexibility and overall profit potential.
Discussing the relationship between automation and profit potential, this article defines automation, presents it’s different facets in different production settings, analyses financial aspects of automation in relation to pofit generation from classical and neo — classical points of view. Also discussed are computers, computer — aided design systems (CAD), computer — aided manufacturing (CAM), comprehensive computerized production systems, robots, analogy, flexible production systems and several combinations thereof. The commanding feature of the article, however, is financial
transformations caused by automation in different industries.